Hedge funds in EU will be regulated

Reuters – Hedge funds in the European Union will be regulated following a public consultation that is currently underway, a senior EU official said on Wednesday.

"On hedge funds, we have used as our basis that they must be regulated," EU Economic and Monetary Affairs Commissioner, Joaquin Almunia told the European Parliament.

On Monday the bloc’s internal market commissioner, Charlie McCreevy, launched a public consultation on whether hedge funds needed more oversight but stopped short of saying if there will be regulation or a softer approach, such as an industry code.